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Wednesday, 24.04.2024, 15:01
Baltic Real Estate Leaders Forum in Riga brings together leaders of the real estate industry
Also this year, the BREL Forum programme was divided into
four content-specific sessions that explored the current issues of the
macroeconomic development, changes in the real estate price levels, demographic
and political aspects, market investments, global trends in the working
environment, retail trade, and the impact of e-commerce on the use of
traditional retail space. After each session, interactive panel discussions with
expert participation were held, which allowed an in-depth discussion of each of
the current topics, involving the audience and inviting all attendants to ask
their questions and express their views through an online vote. The forecasts
of the forum's lecturers suggest that the real estate market is becoming
increasingly complex. Also, the classic real estate investment funds will adapt
to changes in the market by changing their operating principles. After a long
period of stagnation, the world economy is once again becoming stronger, and
inflation rates in the euro area will still remain relatively low.
As Jekaterina Rojaka, the leading
economist of Luminor emphasised, wage
growth in the Baltic Countries is more rapid than the real estate price rise,
so people have begun investing in housing, thus contributing to the development
of this market segment. Baiba Rubesa,
Chairman of the Board of AS RB Rail,
expressed her opinion that the upcoming railway line Rail Baltica project will also give impetus to the development of
the real estate market, symbolically breaking the borders between the Baltic
countries, Poland and the rest of Europe. Jan Jaap Boogaard, department director
at Colliers International EMEA Workplace Solutions, emphasised that
fostering effective entrepreneurship requires co-operation from colleagues,
which can be achieved by working in a common working space. Consequently, the
recently trend of working from home is now being replaced by office work again.
Leading partner of Voodoo Associates,
Francois Duchastel, closed the forum with a lesson that the impact of
technology and e-commerce on retail has continued to grow rapidly, contributing
to the development of new and unique marketing concepts.
"The BREL Forum organised by Colliers International revealed several factors that will affect the Latvian real estate market in the upcoming years. On the one hand, there is increasing competition between the Baltic cities, ideas, projects and even employers to achieve their goals. On the other hand, there is a need for greater cooperation between the public and private sectors as well as the representatives of different groups, because only by cooperating can they develop large projects at the required speed. There is a need for political and economic leaders who can think differently and ensure the implementation of new ideas in life. Lastly, looking at the dramatic demographic situation, the country needs to work smarter by introducing re-emigration plans, demographic measures and attracting foreign students. Targeting and further research of these topics are important not only in Latvia, but also in the whole Baltic region,” comments the moderator of the forum, the main advisor of RB Rail AS and the main coordinator of Rail Baltica, Ģirts Rūda.
Among
the speakers at the BREL forum were a
number of real estate industry experts from all three Baltic counties, as well
as from Poland, Sweden, and the Netherlands, including CERTUS board member Dr. Sc. pol., researcher, University of Latvia
Associated Professor Daunis Auers, University of Latvia Econometrics Professor Mihails Hazans, Chief Executive Officer
of Linstow and CEO of OSU Per
Mortnesen, Founder and Managing Director of Projects Partners International John Banka, Head of Aecom
in the Baltic states Arnis Kākulis, Leading
Partner of Lumi Capital from Estonia Raiko Uri, CEO of the Lithuanian
company East Capital Real Estate Madis Raidma, Managing Director of Capitalica Andrius Barštys, Sorainen
Partner, Sworn Advocate and Head of Tax and Customs Practice Group in the
Baltic and Belarus Jānis Taukačs, New Hanza Capital AS Managing Director Andris Kovaļčuks, Deputy Director of Pillar RE Services Guntars Cauna, Deputy State Secretary of the Ministry of Economics
of the Republic of Latvia Raimonds
Aleksejenko and Chairman of the Board of the shopping centre Akropolis Saule Zabulionyte.
BREL forum was organised by
Colliers International in partnership
with iDEA HOUSE events. The main
partners of the forum are ABLV Bank, Hanner, Linstow Center Management, Luminor
and the National Alliance of Real Estate
Developers (NNĪAA).